Mortgage rates hit one-year high at 6.69% as home sales fall

First-time buyers made up just 29% of July sales as inventory fell and mortgage rates priced out buyers, even as existing-home sales edged up.

Sales of previously occupied US homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective homebuyers.

US existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers  AP News

US existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers  Toronto Star

Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in more than a year prove to be an insurmountable hurdle for many prospective homebuyers

Mortgage Rates Today: August 11, 2026 – Rates Stand Still  Forbes

US suffers unexpected job losses in July, markets dial back rate hike expectations  Reuters

The U.S. economy shed 23,000 jobs in July, far below forecasts of an 83,000 gain, shifting trader expectations away from a September rate hike

Friday's jobs report showed employers shed jobs last month, rather than adding 95,000 new hires that had been forecast by economists.

Before the coordinated intervention, most analysts were looking to December for the next move higher.

Eurozone Government Bond Yields Rise on Higher Oil Prices  WSJ

The region saw 5,995 homes change hands last month, down 0.9 per cent from July 2025, however sales rose 3.2 per cent from June on a seasonally adjusted basis.

The Greater Toronto Area’s housing market cooled in July after a run of four straight months with year-over-year gains.